Russia extends beyond the US pressure and solves a crisis in yuan transactions

Russia has apparently exceeded a deficit in the yuan that jumped with short -term leaders after the United States threatened to set up sanctions on banks addressing payments across the border. China became the most important commercial partner of Russia after isolated from Western markets after the invasion of Ukraine in 2022. However, the Kremlin turning to the Chinese currency was influenced by the threat of secondary sanctions, which contributed to the payment price for the Yuan for one night, “rosfar”, as 200% in September “. This indicator has now refused to below zero, indicating a return to a surplus in Moscow with Russia’s adjustment to the sanctions environment through alternative channels to make payments. A Russian bank finds solutions, Alex Isakov, an economist at Bloomberg Economics, said that” have to reduce the interest on the yuan, “Note the difference between” rosfar “and interest rates on the Yuanese in the internal market as a proof of the magnitude of the Sanker. Russian Russian VTB Bank (VTB), which has a branch in Shanghai, to solve its liquidity problem by purchasing foreign exchange with a ‘specific margin’ Bank CEO Andre Kostine in December. At the same time, the bank has significantly reduced the commission for payments to China for small and medium -sized companies, according to data published on its website. Also read: Russian banks are scrambled to acquire the Yuan with the dryness of its liquidity in the country, and rely on brokers in cases where foreign counterparts avoid direct transactions with Russia, local businesses are increasingly dependent on brokers to complete the borders by the entities in third countries. The Russian central bank used the bodies in August to achieve the stability of the market as it pumped up to $ 30 billion rubles ($ 302 million) per day during demand for demand, but this tool has not been used over the past two months. The central bank did not respond to a request for comment on the matter. “The advantage of the monetary market has become negative again. There are no problems in the liquidity of the yuan, and export mechanisms that are from the output disrupted as a result of the sanctions set against banks were resumed,” said Mikhail Zilser, BCS Express in Moscow. In June, the United States introduced sanctions on the Moscow Stock Exchange, which led to the termination of dollars trade and the euro. The Kremlin has already tried to stop with the two currencies and describe them as ‘toxic’. The data of the Russian central bank showed that the ruble had increased by 10% by 10% since the lowest level at the end of November. The difference between the yuan exchange rates against the dollar in the Russian market and the world market also reduced in January, which is an indication of the possibility of settlement of transactions in the yuan, according to “Bloomberg Economics”. Also read: Funding in the Yuan puts Russian businesses in trouble because of the great advantage of delaying payments in the borders, the borders, including the Balwan, have delayed since the beginning of this year, according to two major managers in two Russian companies to execute basic commodities. They made it clear that a new round of US sanctions introduced by the Biden Administration in January raised the anxiety of Chinese banks because he requested more time to judge transactions. The United States has set sanctions on a network of financial institutions and businesses in Russia and China, which is seen as the Kremlin to bypass sanctions and execute international transactions. Sanctions were also imposed on Keremet Bank in Kyrgyzs due to facilitating border payments for the Russian Russian “Promsvyazbank” bank. In a video call this month, Chinese President Xi Jinping praised the relations with Russia, while Russian President Vladimir Putin emphasized the growth of trade between the two countries by 7% in the first 11 months of last year, despite “negative external conditions.” According to the estimates of “Bloomberg Economics”, most of Russia’s exports to China, as well as goods, between $ 3 and 4 billion sold to third countries are paid for the Yuan. While the export of Russia to China remained stable during 2024 compared to the previous year, the import of its neighbor, according to the Chinese Customs data, increased by 4%, setting a new monthly record of $ 11.3 billion in December.